JOURNAL OF EASTERN EUROPEAN AND CENTRAL ASIAN RESEARCH Vol.10 No.

7 (2023)

FACTORS INFLUENCING THE URGE TO BUY IMPULSIVELY OF

VIETNAMESE ONLINE BUYING CUSTOMERS TOWARDS BITI’S
HUNTER SPORT SHOES

Xuan-Nhi Nguyen
Faculty of Business Administration
Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam

Hung Cuong Hoang

Faculty of Business Administration, Ho Chi Minh City University of Foreign Languages –
Information Technology, Ho Chi Minh City, Vietnam

Trung-Nghia Vu
Faculty of Business Administration
Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam

ABSTRACT
Our study investigates the factors that drive Vietnamese online shoppers in Ho Chi Minh City (HCMC)
to make impulsive purchases of Biti's Hunter sports shoes (BHS), using the Stimulus-Organism-
Response (S-O-R) theory and the Technology Acceptance Model (TAM). Mixed methods are applied:
in-depth interviews with ten regular online shoppers and focus group discussions with e-commerce
managers for qualitative data collection, and survey techniques to gather quantitative data from 319
online shoppers. Data analysis was performed using SPSS 22.0 and AMOS 22.0. Our findings reveal five
factors as a stimulus - visual appeal, website ease of use, product availability, portability, and social
influence – and three factors as an organism - instant gratification, impulsiveness, and trust, that lead
to the response of urge to buy impulsively. Significant positive effects are found among these
constructs, except the relationship between portability and impulsiveness, visual appeal, social
influence, trust, instant gratification, and urge to buy impulsively.

Keywords: urge to buy impulsively; S-O-R, TAM; online buying

DOI: https://doi.org/10.15549/jeecar.v10i7.1345

INTRODUCTION of the consumer market is dominated by online

With the proliferation of network shopping. E-commerce in Vietnam is growing
technologies, consumers' buying practices are rapidly, especially after almost two years of the
continually evolving. Currently, the vast majority COVID-19 pandemic, which shifted most
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 Factors influencing the urge to buy impulsively of Vietnamese online…
consumers from direct to online shopping.
According to a report by Google et al. (2022),
consumers buying goods online in Vietnam
accounted for 49% of purchases, just behind
Singapore (53%) and higher than Malaysia and
Indonesia. Therefore, investigation of online
customer behavior is necessary to keep up with
the development of the market.
Impulse buying is making a purchase without
planning, which means that what people actually
do when they shop online does not match what
they had planned. Previous typical studies
investigated online impulse buying that applied
many different theories. Liu et al. (2013) studied
website attributes in urging online impulse
purchases. Marketing knowledge was applied to
information systems to explain how website
cues affect personality traits to urge impulse
purchases online. Additionally, the investigation
of Verhagen and Van Dolen (2011) applied
cognitive emotion theory to provide insight into
the relationships between online store beliefs
and consumer online impulse buying behavior.
Moreover, Zheng et al. (2019) applied the S-O-R
paradigm to examine impulse buying based on
situational factors and reaction factors in mobile
commerce. However, there is no comprehensive
study using both theories of S-O-R and TAM to
explain impulse buying, especially in Vietnam.
Therefore, it is necessary to study impulse buying
behavior in Vietnam by applying both theories.
This paper aims to fill the gap in research by
identifying the factors that influence the
impulsive buying behavior of online customers
towards BHS in Ho Chi Minh City, Vietnam. Our
research objectives include: (1) identifying the
factors that contribute to impulsive buying
behavior, (2) measuring the impact of each factor
on the urge to buy impulsively, and (3) proposing
solutions to increase Biti's revenue and market
share. We applied the S-O-R theory and the TAM
to study impulsive buying behavior. The results
of this study provide valuable insights into the
factors affecting the urge to buy impulsively
among online customers for BHS. This
information will help online businesses
understand their customers' shopping behavior
and formulate effective business strategies to
attract more customers and achieve better
outcomes.
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Xuan-Nhi Nguyen et al.
LITERATURE REVIEW
Theoretical background and hypotheses
development
The S-O-R model was originally proposed by
Mehrabian and Russell (1974) in environmental
psychology to explain how environmental
factors influence human behavior. In recent
years, the S-O-R paradigm has been widely
adopted in online consumer behavior studies to
explore how human-computer interactions lead
to behavioral intentions (Zhang & Benyoucef,
2016). Therefore, it is highly appropriate to use
this model in the context of online commerce.
The TAM is a useful tool for understanding the
factors that drive impulsive buying behavior
online, such as perceived ease of use and
perceived usefulness when accessing online
shopping websites or applications (Davis, 1989).
The factor of ease of use is included in this study’s
research model based on the TAM. This is
because, when it comes to impulsive buying
behavior, people are often attracted to the ease
and convenience of using technology devices
such as mobile phones.
Visual appeal includes fonts, images, and other
visual elements that enhance a website's
appearance (Parboteeah et al., 2009). Perceived
visual appeal directly affects impulse purchases,
mediated by user satisfaction and website
quality (Loiacono et al., 2007; Wells et al., 2011).
A website with visual appeal can increase the
instant gratification of online purchases (Liu et
al., 2013). Moreover, in the research of Zhao et al.
(2022), the investigation presents that visual
appeal is positively related to online impulse
buying. Visually appealing websites attract
customers and evoke positive emotions (Chen,
Ku, & Yeh, 2019), and it is assumed that online
buying customers are more likely to trust
websites with attractive visual appeal. We
therefore propose the following hypotheses:
H1a: Visual appeal positively affects the
instant gratification of Vietnamese online buying
customers towards BHS.
H1b: Visual appeal positively affects the
impulsiveness of Vietnamese online buying
customers towards BHS.
H1c: Visual appeal positively affects the trust
of Vietnamese online buying customers towards
BHS.
Perceived website ease of use relates to online
retail navigation (Verhagen & Van Dolen, 2011).
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 Factors influencing the urge to buy impulsively of Vietnamese online…
Easy-to-use websites can boost good feelings and
increase impulse purchases (Liu et al., 2013;
Verhagen & Van Dolen, 2011). Hence, if a
consumer has trouble surfing a site, they are less
likely to be satisfied with their purchase. It is
assumed that when the website is easy to access
and use, a user will be more likely to get a sense
of gratification. In the research of Bressolles et al.
(2007), it was found that the ease of use of
electronic service quality can increase the
impulse buying of the customer. Previous studies
also have illustrated the effect of website ease of
use on online buying impulsively (Liu et al., 2013;
Zhao et al., 2022). In addition, website ease of use
and trust can increase the satisfaction of mobile
users (Amin et al., 2014), leading to an increase
in response to the urge to buy impulsively. Thus,
we hypothesize:
H2a: Website ease of use positively affects
instant gratification of Vietnamese online buying
customers towards BHS.
H2b: Website ease of use positively affects the
impulsiveness of Vietnamese online buying
customers towards BHS.
H2c: Website ease of use positively affects the
trust of Vietnamese online buying customers
towards BHS.
Perceived product availability is related to the
online store's variety of products to satisfy
potential customers' shopping interests. If
consumers cannot find what they want, they will
be frustrated and less likely to buy (Chen-Yu &
Seock, 2002; Theodoridis & Chatzipanagiotou,
2009). Moreover, product availability is the most
important criterion for impulsive clothing buyers
(Chen-Yu & Seock, 2002). Yoo el al. (1998) found
that consumers like stores with a wide product
selection. Theodoridis and Chatzipanagiotou
(2009) found that a large assortment affects
consumers' store image and satisfaction. This
shows that product availability is an important
factor affecting impulse buying behavior. As a
result, we hypothesize:
H3a: Visual appeal positively affects the
instant gratification of Vietnamese online buying
customers towards BHS.
H3b: Product availability positively affects the
impulsiveness of Vietnamese online-buying
customers towards BHS.
H3c: Visual appeal positively affects the trust
of Vietnamese online buying customers towards
BHS.
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Xuan-Nhi Nguyen et al.
Portability can be stated as “users can access
the internet via mobile devices anytime and
anywhere, subject to signal rereception” (Ghose
& Han, 2011, p. 1671). Online shoppers using
smartphones value portability (Okazaki &
Mendez, 2013). Users may access websites on
their mobile devices anytime, anyplace, which
might considerably boost their surfing time. A
previous study by Zheng et al. (2019) found that
portability is the environmental stimulus factor
that can influence organisms of online buying
customers, and this leads to the urge to buy
behavior impulsively. This leads to the following
hypotheses:
H4a: Portability positively affects the instant
gratification of Vietnamese online buying
customers towards BHS.
H4b: Portability positively affects the
impulsiveness of Vietnamese online buying
customers towards BHS.
H4c: Portability positively affects the trust of
Vietnamese online buying customers towards
BHS.
Social influence has been studied based on the
theory of TAM, and the results of those studies
have indicated that social influences positively
influence the technology acceptance of
individuals (Venkatesh & Morris, 2000).
Research by Slade et al. (2015) proved that social
influences have a positive impact on online
impulse buying behavior in e-commerce. We
assumed that when customers are affected by
social influence, they are likely to purchase
online impulsively, and therefore hypothesize:
H5a: Social influence positively affects the
instant gratification of Vietnamese online buying
customers towards BHS.
H5b: Social influence positively affects the
impulsiveness of Vietnamese online-buying
customers towards BHS.
H5c: Social influence positively affects the
trust of Vietnamese online-buying customers
towards BHS.
Instant gratification refers to the degree of
instant gratification a person receives from
making an impulse purchase (Liu et al., 2013).
Marketing knowledge suggests that, in stores,
some consumers can immediately feel
gratification after making an impulse purchase
(Rook Dennis W & Gardner Meryl P, 1993). Youn
and Faber (2000) noted that impulse consumers
act quickly and seek instant gratification. Beatty
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 Factors influencing the urge to buy impulsively of Vietnamese online… Xuan-Nhi Nguyen et al.

and Ferrell (1998) pointed out that some Trust is a governance mechanism in exchange
shoppers who get more gratification from relationships that are characterized by
shopping will enjoy shopping more than others. uncertainty, vulnerability, and dependence.
Based on the above discussion, we hypothesize: Developmentally, relationships between parties
H6: Instant gratification positively affects the who have never met should start with small
urge to buy impulsively Vietnamese online activities that demand little trust. In e-
buying customers towards BHS. commerce, information security, confidentiality,
and trust related to customers are crucial factors
Impulsiveness is defined as "both the
to the success of e-commerce services (Eid, 2011;
tendencies (1) to experience spontaneous and
Yi & Jai, 2020). Therefore, to do business
sudden urges to make immediate purchases and
successfully on the e-commerce platform
(2) to act on these felt urges with little
requires businesses to create a connection with
(conscious) deliberation or evaluation of
consumers and gradually strengthen their trust
consequence"(Beatty & Ferrell, 1998, p. 174).
in the product or service that the business
This construct, which has been examined in both
provides (Quinton & Harridge-march, 2006;
online and offline contexts (Wells et al., 2011), is
Verhagen & Van Dolen, 2011). The urge to buy is
a significant predictor of impulse purchases. The
formed by positive feelings (Flight et al., 2012) ,
urge to buy impulsively refers to "the state of
and the trust of customers has a significant effect
desire experienced upon encountering an object
on consumers’ positive emotions, which in turn,
in the environment" (Beatty & Ferrell, 1998, p.
influences consumers’ impulse buying behavior
172). Several studies have indicated that the
(Yi & Jai, 2020). Hypothesis 8 follows:
construct is an accurate, appropriate, and
effective proxy for impulse purchasing. (Beatty & H8: Trust positively affects the urge to buy
Ferrell, 1998; Liu et al., 2013; Wells et al., 2011). impulsively of Vietnamese online buying
Therefore, we hypothesize that: customers towards BHS.
H7: Impulsiveness positively affects the urge
to buy impulsively of Vietnamese online buying
customers towards BHS.

Stimulus Organism Response

Visual Appeal (1)

H1a H2a H3a H4a H5a Instant

Gratification H6
Website Ease of (a)
Use (2)

H7
Products H1b H2b H3b H4b H5b Impulsiveness Urge to Buy
Availability (3) Impulsively

Portability (4) H8

H1c H2c H3c H4c H5c Trust

Social Influence
(5)

Figure 1: Research framework

Source: Authors ‘work

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 Factors influencing the urge to buy impulsively of Vietnamese online…
METHODOLOGY
Study design
The study uses a mixed-methods design. The
qualitative methods used in-depth interviews of
10 regular online-buying customers to explore
factors influencing the urge of online buying
customers to buy impulsively BHS shoes in
HCMC, Vietnam. The focus group discussion with
online commerce managers then is applied to
explore factors, model modification, and
measurement scale. The quantitative methods
used a survey technique with a sample size of
319 online-buying customers. The questionnaire
was created using measurement scales from
prior studies. A five-point Likert scale ranging
from strongly disagree (1) to strongly agree (5)
was used to measure each item. The three items
of the portability construct were adapted from
Okazaki and Mendez (2013) and Zheng et al.
(2019). Three items from the website ease of use
construct were adapted from the measurements
of Bressolles et al. (2007), Verhagen and Van
Dolen (2011), and Liu et al. (2013). The
measurement for visual appeal was developed
based on the research of Loiacono et al. (2007)
and Wells et al. (2011). The measurement for
product availability was adapted from Verhagen
and Van Dolen (2011) and Liu et al. (2013). Three
items of social influence construct were adapted
from Slade et al. (2015), and Venkatesh (2012).
The impulsiveness construct measurement was
adopted from Rook and Fisher (1995),
Parboteeah et al. (2009), and Liu et al. (2013).
Three items of trust construct were adapted from
Corbitt et al. (2003). Three items of instant
gratification were measured based on the
research of Rook (1987), Rook Dennis and
Gardner Meryl (1993), and Liu et al. (2013). The
urge to buy impulsively measurement was
adopted from Liu et al. (2013) and Zheng et al.
(2019).
Data collection and sample
The data were collected from HCMC, Vietnam,
from June to November 2022. Because young
customers may be more familiar with and find
easier to use mobile devices and modern
technology, the respondents were online buying
customers from 18-30 years old. According to
Hair et al. (2013), the sample size (n) should be
300-384 respondents when the population is
higher than one million or/and the population is
unknown (with 95% confidence level and a 5%
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Xuan-Nhi Nguyen et al.
error). After screening and removing
unsatisfactory responses, the number of retained
responses was 319.
The descriptive statistical analysis of the
sample is illustrated as follows. In particular, 60%
of respondents are female, and 40% are male. In
terms of age distribution, the proportions are
29.3% and 70.7%, respectively, for 18–25-year-
olds and 26-30-year-olds. The primary marital
statuses are married (47%), single (35%), and in a
relationship (18%). Respondents who are office
staff accounted for the highest percentage (37%),
followed by those of lecturers (29%), students
(30%), and housewives (4%). For personal income
per month, the two highest positions are more
than 15 million VND (43%) and from 10 million
VND to 15 million VND (37%).
RESULT
Assessment of measurement model
Cronbach's alpha is the coefficient when
assessing the reliability of multivariate scales
when the number of observed variables is from 3
or more. Cronbach's Alpha coefficient values (α
>0.7) were applied for each factor to assess the
questionnaire's internal consistency or reliability
(Hair et al., 2013). This study shows all constructs
with Cronbach’s alpha are greater than 0.7. As a
result, all items were acceptable and statistically
significant (see Table 1). Moreover, all items of
the nine constructs have coefficients of corrected
item-total correlation, which are larger than 0.3;
thus, there are no items excluded from the scale
(see Table 1).
Exploratory factor analysis (EFA)
Exploratory factor analysis (EFA) was applied
to identify and confirm the factors under each
construct. Variables with factor loading <0.5 will
be removed from the scale. This does not meet
the requirements of the scale value. According to
Hair et al. (2013), the factor loading coefficients
are the criteria that help to ensure the
significance level of EFA (with factor loading > 0.5
at the minimum level). The results of the EFA
analysis show that the total variance extracted
from the factors is 78.547 % (>50%), and the value
of the factor loading coefficient of observed
variables meets the requirements (>0.5) (see
Table 1). Moreover, the Kaiser-Meyer-Olkin
(KMO) measure of sampling adequacy has a
value of 0.843, while Bartlett’s test of Sphericity
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 Factors influencing the urge to buy impulsively of Vietnamese online… Xuan-Nhi Nguyen et al.

is significant (Sig=.000), indicating that the data

is suitable for factor analysis.

Table 1: Assessment of measurement model

Construct Average Composite Corrected Factor
Variance Reliability Item-Total Loading
Extracted Correlation
Visual appeal 0.719 0.810
(VAP) 0.843 0.646 0.773 0.943
α= 0.831 0.590 0.622
Website ease of use 0.643 0.609
(WEU) 0.854 0.662 0.768 0.922
α= 0.846 0.734 0.833
Product availability 0.588 0.725
(PDA) 0.771 0.530 0.688 0.850
α= 0.777 0.573 0.608
Portability 0.547 0.640
(PAB) 0.765 0.522 0.597 0.727
α= 0.758 0.632 0.796
Social influence 0.575 0.659
(SOC) 0.784 0.552 0.639 0.820
α= 0.769 0.595 0.706
Instant gratification 0.864 0.879
(ING) 0.933 0.824 0.891 0.960
α= 0.933 0.830 0.851
Impulsiveness 0.922 0.989
(IMP) 0.947 0.857 0.880 0.894
α= 0.946 0.858 0.833
Trust 0.746 0.841
(TRU) 0.860 0.672 0.726 0.780
α= 0.860 0.731 0.814
Urge to Buy 0.832 0.925
Impulsively 0.807 0.821
0.907 0.765
(UBI)
0.803 0.835
α= 0.907
Source: SPSS and AMOS results

Confirmatory factor analysis (CFA) criteria of 0.7 and 0.5 (Hair et al., 2013).
According to the results of the CFA analysis,
the CMIN/DF value = 1.436 (<3), and the TLI and Structural equation modeling (SEM)
CFI >0.9. In addition, the GFI reached 0.917 (>0.8),
Based on the results of SEM analysis, the
the RMSEA was 0.037 < 0.08, and the sig test
results indicate that the evaluation of the model
value of the model was 0.000 < 0.05. Therefore,
fit is satisfied, the CMIN/df = 1,640 (<3); TLI =
we can conclude that, at the 95% confidence
0.956 and CFI = 0.963 (>0.9); GFI index = 0.903 >
level, the model is appropriate for CFA analysis,
0.8; RMSEA = 0.045 (<0.08); P-value = 0.00
and the data were compatible with the research
(<0.05). Thus, at the 95% confidence level, the
model. Moreover, the composite reliability (CR)
data is consistent with the SEM. Table 2
of each factor is greater than 0.7, and the variance
illustrates the hypotheses testing for this study.
extracted (AVE) is higher than 0.5. Both CR and
AVE meet the requirement with the suggested

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 Factors influencing the urge to buy impulsively of Vietnamese online… Xuan-Nhi Nguyen et al.

Table 2: Hypotheses testing

Ho. Path Estimate P Result

H1a VAPING 0.265 *** Accepted

H2a WEUING 0.278 *** Accepted
H3a PDAING 0.224 0.005 Accepted
H4a PABING 0.196 0.014 Accepted
H5a SOCING 0.206 0.007 Accepted
H1b VAPIMP 0.258 *** Accepted
H2b WEUIMP 0.316 *** Accepted
H3b PDAIMP 0.48 *** Accepted
H4b PABIMP 0.161 0.073 Rejected
H5b SOCIMP 0.192 0.026 Accepted
H1c VAPTRU 0.119 0.057 Rejected
H2c WEUTRU 0.272 *** Accepted
H3c PDATRU 0.353 *** Accepted
H4c PABTRU 0.265 0.006 Accepted
H5c SOCTRU 0.126 0.166 Rejected
H6 INGUBI 0.014 0.836 Rejected
H7 IMPUBI 0.481 *** Accepted
H8 TRUUBI 0.356 *** Accepted
Note: *** p<0.0001, ** p<0.1, * p<0.05 level of significance
Source: SEM results

DISCUSSION making a purchase online, leading to the result of

The study contributes new insights to
understanding the determinants of the online
urge to buy impulsively. The results indicate that
five stimuli factors are visual appeal, website
ease of use, product availability, portability, and
social influence. These stimulus factors lead to
the response of the urge to buy impulsively
through instant gratification, impulsiveness, and
trust (organism).
With the organism of instant gratification, in
line with the hypothesis, the findings show that
all five stimulus factors have positive effects on
instant gratification. Visual appeal, website ease
of use, and product availability are the three
factors most influencing instant gratification
(H1a: β =0.265 p<0.0001, H2a: β =0.278
p<0.0001, H3a: β =0.224 p=0.05). In other words,
when customers feel that the online stores have
available products to provide, websites with
pleasing displays, attractive layouts of websites,
and websites of these stores have relevant and
obvious and easy-to-find information about BHS
shoes, customers will have more gratification of
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a stronger feeling of being urged to buy
impulsively. The findings are the same for the
organism of impulsiveness. Four stimulus factors
out of five have positive effects on impulsiveness
(H1b: β =0.258 p<0.0001, H2b: β =0.316
p<0.0001, H3b: β =0.480 p<0.0001, H5b: β =0.192
p=0.026<0.05), and visual appeal, website ease
of use, products availability are the strongest
stimulus factors for impulsiveness. The
portability factor did not affect impulsiveness
(H4b: p=0.073>0.05), which can be explained by
saying that customers who purchase online BHS
were not affected by portability at the moment
of making impulsive buying. This finding is also
consistent with previous studies by Zheng et al.
(2019). For the organism of trust, the finding
shows that website ease of use, products
availability, and portability have a positive effect
on trust (H2c: β =0.272 p<0.0001, H3c: β =0.353
p<0.0001, H4c: β =0.265 p=0.006<0.01). We did
not find any significant effects for the
relationship between visual appeal, social
influence factor, and trust (H1c: p=0.057>0.05,
H5c: p=0.166>0.05),.
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 Factors influencing the urge to buy impulsively of Vietnamese online…
For testing the relationship between instant
gratification, impulsiveness, and trust, the study
has significant findings. Instant gratification did
not affect the urge to buy impulsively (H6:
p=0.836>0.05), and this finding is not the same as
previous studies by Liu et al. (2013). However,
impulsiveness has positive effects on the urge to
buy impulsively, which is consistent with prior
studies (H7: β =0.481 p<0.0001). Trust is the new
construct that we added to investigate impulse
buying behavior in the context of BHS in
Vietnam, and this factor has a positive effect on
the urge to buy impulsively (H8: β =0.356
p<0.0001). We believe that the research findings
can be largely generalizable to other online or
offline products.
CONCLUSION AND RECOMMENDATION
Using both the S-O-R theory and the TAM
theory, our study explores the factors that
influence Vietnamese online customers in HCMC
to make impulsive purchases of BHS. The study
contributes new insights to understanding the
determinants of the online urge to buy
impulsively. The finding shows five factors as a
stimulus - named visual appeal, website ease of
use, products availability, portability, and social
influence – and three factors as an organism -
named instant gratification, impulsiveness, and
trust - that lead to the response of urge to buy
impulsively. Significant positive effects are found
among these constructs, except the relationship
between portability and impulsiveness; visual
appeal, social influence, and trust; instant
gratification, and the urge to buy impulsively.
These findings update the literature for impulse
online buying behavior with the application of
both theories of S-O-R and TAM.
Based on this investigation, our study has
several implications. We can see that stimulus
factors play vital roles in impulse buying. E-
commerce companies can attract more
customers by improving the visual appeal of
their websites (Wells et al., 2011). Moreover,
with easy-to-use features on mobile phones and
websites, companies can increase good feelings
and portability that lead to impulse purchases
(Liu et al., 2013). It also is important to update
new products on the website and make sure
products are available (Chen-Yu & Seock, 2002).
Moreover, businesses that do e-commerce need
to connect with their customers and gradually
build their trust in the products or services they
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Xuan-Nhi Nguyen et al.
offer (Quinton & Harridge-march, 2006;
Verhagen & Van Dolen, 2011). This study shows
the positive effects of social influence. Hence, e-
commerce companies can promote advertising
on social media because consumer engagement
behavior in social media can increase the brand
equity of the company (Zailskaite-Jakste &
Minelgaite, 2021), which can increase social
influence on online buying customers.
We list this study's limitations below. First, this
study exclusively examines the shoe company's
product. Consequently, future studies might
apply the model to additional e-commerce
products to confirm this study. The study
investigates only in HCMC, which has the most e-
commerce enterprises and people in Vietnam. A
future study could compare Southeast Asian
countries or a developing country like Vietnam
to a developed country. Last but not least,
personality has a major impact on buying
behavior. Thus, we can add extra constructs
linked to personality traits to the model to better
understand customer behavior.
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ABOUT THE AUTHORS
Hung Cuong Hoang, Corresponding author,
email: cuonghh@huflit.edu.vn
Xuan-Nhi Nguyen (Ph.D.), Dean of Faculty of
Business Administration, Nguyen Tat Thanh
University, Ho Chi Minh City, Vietnam.
Hung Cuong Hoang (Ph.D.), Lecturer of Faculty
of Business Administration, Ho Chi Minh City
University of Foreign Languages –
Information Technology, Ho Chi Minh City,
Vietnam
Trung-Nghia Vu (MSc), Research assistant of
Faculty of Business Administration, Nguyen
Tat Thanh University, Ho Chi Minh City,
Vietnam.
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